Trump clinches Venezuela's reserves as Maduro faces trial in US
Trump announced the US has secured majority control of Venezuela's vast oil reserves, more than 65 billion barrels. A private company gets 100-year development rights as part of the partnership.
Why it mattersThe US gains direct access to a fifth of Venezuela's vast oil reserves. This helps address fuel prices during Middle East conflict. For Venezuela, the deal promises major investment in an economy hit hard by years of crisis.
AustraliaAustralian fuel prices may fall if Venezuelan oil enters global supply, though geopolitical tensions over US control of South American resources could complicate Australia's diplomatic position.
Corroborated byperthnow.com.au·thenightly.com.au
✓ Claims checked against the source and corrected before publish. checked 1 h ago
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